15 April 2024 – The Hurun Research Institute has released the Global Unicorn Index 2024, a rating of companies worldwide established in the 2000s. In summary, unicorns are companies valued at least $1 billion and have not yet been listed on a public market.
Unicorns worldwide hail from 53 nations, up from 48 the previous year, and are dispersed among 291 cities, up from 271. With 703 unicorns, the US topped the standings; China came in second with 340.
According to the study, the ailing edtech firm Byjus was the biggest Unicorn to fall off the list internationally in terms of valuation. Byju’s, which was formerly valued at more than $22 billion annually, was removed from the list, indicating that its current value is less than $1 billion.
Conclusion
The article said that as it reorganized operations and reduced expenses in response to mounting losses, the 2008-founded Byju’s lost its highly sought-after status. It added that “the former unicorn missed its revenue target for the financial year ending in March last year and is working to resolve a USD 1.2 billion debt.”
